The answer is yes, you can easily buy an AC on EMI without a credit card. You do not need a credit card anymore to convert your air conditioner purchase into easy monthly installments. Today, many banks, NBFCs, and digital platforms offer no-cost EMI options, consumer durable loans, UPI EMI, and instant personal loans without requiring a credit card.
If you are planning to buy a new AC but don’t have a credit card, read on. This guide will smoothly walk you through all the available options.
Why People Look for AC on EMI Without a Credit Card?
Air conditioners can cost anywhere between ₹25,000 to ₹60,000 or more. Paying the full amount at once may not be convenient. Many people:
- Do not own a credit card.
- Have a low credit limit.
- Prefer EMI without using a credit card.
- Want a simple approval process.
EMI options are now available even without credit cards.
4 Ways to Buy an AC on EMI Without a Credit Card
Here are the most common options available:
1. Consumer Durable Loan
This is one of the easiest ways to buy an AC on EMI.
Consumer durable loans are offered by:
- Banks
- NBFCs
- Finance companies
Features:
- No credit card required
- Quick approval at the store or online
- 3 to 24 months tenure
- Sometimes, No Cost EMI is available.
You can apply directly at the electronics store or an online shopping platform.
Also Read: Best Loans for Buying Gadgets: 100% Easy EMI Loans
2. Debit Card EMI
Some banks allow EMI conversion on debit cards.
How It Works:
- You select the EMI option during checkout.
- EMI amount is deducted monthly from your bank account
Eligibility depends on:
- Bank approval
- Pre-approved EMI facility
- Account history
Not all debit cards are eligible.
3. Instant Personal Loan
If you don’t qualify for store EMI, you can apply for a small personal loan through platforms like 24hrLoan.
Benefits:
- Loan amount up to ₹50,000 or more
- Flexible tenure (6 to 36 months)
- Direct bank transfer
- Can be used to purchase an AC from any store
This option gives you more freedom compared to store-based EMI.
4. Buy Now Pay Later (BNPL)
Some online platforms offer BNPL services.
Features:
- Small ticket EMI
- Short repayment tenure (3–6 months)
- Minimal documentation
However, approval depends on your profile and repayment history.
Eligibility to Buy an AC on EMI Without a Credit Card
Though requirements vary, generally you need:
- Age: 21 to 60 years
- Stable income source
- Active bank account
- Valid PAN and Aadhaar
- Basic KYC verification
For personal loans, a CIBIL score of 650+ is preferred, but some lenders approve even with moderate scores.
Documents Required
To buy an AC on EMI through a loan or financing:
- PAN Card
- Aadhaar Card
- Bank statement
- Salary slip (for salaried applicants)
In many cases, only Aadhaar-based OTP verification is needed.
Interest Rate & Charges
Charges depend on the financing option:
Consumer Durable Loan
- Interest Rate: 0% (No Cost EMI) to 24%
- Processing Fee: May apply
Personal Loan
- Interest Rate: 16% to 30% per annum
- Processing Fee: Up to 3%
Always check:
- Hidden charges
- Late payment penalties
- Foreclosure charges
EMI calculation for an AC Purchase
Check the EMI Calculator to buy an AC if financed at 18% for 12 months:
- EMI: Around ₹3,700 – ₹3,900
- Total repayment: Approx ₹44,000 – ₹46,000
If No Cost EMI is offered:
- EMI: ₹3,333 for 12 months
- Total repayment: ₹40,000
Always compare offers before choosing.
Things to Check Before Choosing the EMI Option
- Check if it is truly No Cost EMI
- Compare interest rates
- Confirm processing fees
- Ensure EMI fits your monthly budget.
- Avoid multiple loan applications.
Should You Take a Personal Loan for an AC Purchase?
It depends on your situation.
You can consider a personal loan if:
- You don’t qualify for store EMI.
- You want a longer repayment tenure.
- You need extra funds beyond the AC purchase.
Avoid a loan if:
- EMI is too high for your income
- You already have multiple active EMIs
Why Use 24hrLoan for AC EMI Option?
With 24hrLoan, you can:
- Compare multiple lenders
- Check eligibility instantly
- Apply online
- Get quick approval
- Receive funds directly in the bank.
You can then purchase the AC from any store or online platform.
Also Read: Flipkart Pay Later EMI: Up to 1 Lakh
Conclusion
Yes, you can easily buy an AC on EMI without a credit card. Options like consumer durable loans, debit card EMI, BNPL, and instant personal loans make it simple and convenient.
The key is to choose an EMI plan that matches your monthly income and repayment ability. Compare interest rates, check charges carefully, and repay on time to maintain a good credit score.
Through 24hrLoan, you can explore the best financing options and apply quickly — without needing a credit card.